AudioCodes Ltd.

What they do

AudioCodes develops and sells voice-over-IP and unified communications equipment and software, traded under SIC 'Telephone & Telegraph Apparatus' and based in Or Yehuda, Israel. Its shares are registered on the Nasdaq Global Select Market under the symbol AUDC. As of December 31, 2025 it had 27,089,259 ordinary shares outstanding.

Revenue drivers

• Communications equipment and software sales — The company's revenue base comes from selling voice networking and unified communications products; total annual revenue was $245.6M in 2025, essentially flat versus $242.2M in 2024.
• Customer base — No specific customer, product or segment-level revenue breakdown is provided in the available excerpts beyond the total annual revenue figures, so relative size by segment cannot be stated from this material.

Recent performance

Revenue was $245.6M in 2025, up modestly from $242.2M in 2024 but below the 2022 peak of $275.1M. Net income fell to $9.0M in 2025 from $15.3M in 2024, with diluted EPS of $0.31 versus $0.50. Operating cash flow declined to $29.4M in 2025 from $35.3M in 2024. At December 31, 2025, total assets were $323.0M, total liabilities $151.7M, shareholder equity $171.3M, and cash and equivalents $45.3M.

Strategy

No strategic priorities, investment plans or product roadmap details are contained in the filing excerpts provided. The excerpts include the Form 20-F cover page, table of contents and preliminary forward-looking statement note, but not the business description, MD&A or risk factor text itself. Accordingly, no claims about direction or priorities can be supported from this material.

Risks

• Forward-looking uncertainty — The filing states its forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially.
• Risk factors referenced but not detailed in excerpt — The company points readers to Item 3.D 'Key Information - Risk Factors' for its principal risks, but that section's substance is not included in the provided excerpt.
• Historical performance not predictive — The filing cautions that past financial and operating performance is not necessarily a reliable indicator of future performance.
• Revenue and profit trend — Revenue has declined from $275.1M in 2022 to $245.6M in 2025, and net income fell to $9.0M in 2025 from $15.3M in 2024 and $33.8M in 2021.

Outlook

No forward guidance, targets or outlook statements are present in the filing text provided. The document contains only a caution that actual results could differ materially from forward-looking statements and points to risk factors for detail. As a result, management's stated expectations for future periods cannot be summarized from this material.